USDCHF Analysis – Mar 12, 2008

USDCHF is forming a cycle bottom and the down trend from 1.1105 might has completed at 1.0132 level, key resistance is at 1.0500, a break of this level will confirm the cycle bottom and rebound to 1.0700 area is expected to follow. Near term support is at 1.0132, only break below this level will signal the resumption of the down trend.

For long term analysis, USDCHF is in long term down trend. Further fall towards 1.0000 area to reach the next cycle bottom on weekly chart is expected.